Brownstone Hotel Rebranded As DoubleTree; More Leasable Space on Flexible Terms in the Triangle Area

By Liviu Oltean, Associate Editor
The Brownstone Hotel located at the corner of Hillsborough Street and Cox Avenue has been rebranded as a Doubletree by Hilton. The hotel has been managed under the Holiday Inn aegis for the past nine years.
The rebranding comes after a [...]

The Brownstone Hotel located at the corner of Hillsborough Street and Cox Avenue has been rebranded as a Doubletree by Hilton. The hotel has been managed under the Holiday Inn aegis for the past nine years.

The rebranding comes after a $4.6 million renovation, which entailed the extensive refurbishment of the interior and the exterior of the lodging property. Developed in 1966, the Brownstone Hotel features 190 rooms, 15,000 square feet of meeting space and a 7,850-square-foot ballroom, the Triangle Business Journal reports.

The Brownstone Hotel belongs to MHI Hospitality Corporation, which owns and operates a portfolio that includes up-scale and mid-scale hotels in the Mid-Atlantic, Midwest and Southeastern United States. Day-to-day operations of the hotel are run by Chesapeake Hospitality of Greenbelt, which also manages the Comfort Inn in north Raleigh.

In other news, an increasing number of landlords in the Triangle areas has started to lease space on flexible terms in the economic downturn, according to the Newsobserver.

Regus PLS, a worldwide provider of accommodation in business centers, will soon occupy 14,000 square feet of space in the CapTrust Tower; a 17-story mixed-use tower owned by Duke and Kane Realty. The property features 275,000 square feet of leasable office space.

Regus will offer the opportunity to individuals and small businesses to rent offices for as low as $400. Donna Scott, RVP with Regus, said that the company’s business plan facilitates the access of small entrepreneurs in a work environment otherwise exclusively dedicated to medium and large companies.

Jeff Sheehan, SVP with Duke Realty in Morrisville, added that there are numerous requests from companies that are interested in small office spaces in the CapTrust Tower.

Employing a similar management strategy, the Wilmoore Lofts located at 223 S. Wilmington St. boasts about 3,000 square feet of flexible work space. With a price range that varies from $495 to $695 per month, the offices at the Wilmoore Lofts feature fax lines, wireless Internet and a conference room.